OPNX CEO scolds claimed backers after some deny investing in the firm
OPNX chief Leslie Lamb called out a number of venture capital firms on Twitter after some rushed to distance themselves from the company. Go to Source Powered by WPeMatico
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VC funding into Web3 start-ups down 82% year-over-year: Crunchbase
Crunchbase noted that while it has been a bearish start for Web3 start-up funding in 2023, “venture funding is down in almost every sector.” Go to Source Powered by WPeMatico
3AC founders’ OPNX exchange claims to be funded by AppWorks, SIG, MIAX Group
DeFi firm Nascent was also claimed as a backer, but it has clarified that it only bought FLEX tokens from the company’s previous incarnation. Go to Source Powered by WPeMatico
LayerZero raises $120M to expand cross-chain messaging efforts
The new funds will be used to increase headcount and expand the company’s presence in the Asia-Pacific region. Go to Source Powered by WPeMatico
First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B
According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States. Silicon Valley … Read more
European DeFi startups saw 120% increase in VC investment in 2022: Data
Despite the ongoing tumultuous market conditions, VC investments in European crypto startups hit an all-time high of $5.7 billion in 2022. Go to Source Powered by WPeMatico
Venture capitalists bail on Zipmex bailout, company warns of consequences: Report
V Venture, a subsidiary of a Thai shipping company, missed a payment on its $100 million buyout of the troubled crypto exchange. Go to Source Powered by WPeMatico
Africa-Focused Venture Capital Firm Echovc Launches Blockchain Fund
The Africa-focused venture capital (VC) firm, Echovc, has launched a fund that seeks to support blockchain startups on the continent. While global blockchain funding has been on a decline over the past year, Echovc founder Eghosa Omoigui claimed that investing now enables the VC to get in “at lower entry valuations on average than in … Read more
Over 100 VCs, investors voice solidarity with Silicon Valley Bank
Approximately 125 VCs and investors signed a statement supporting Silicon Valley Bank as a way to limit the fallout of the bank’s collapse and subsequent extinction of tech companies. Go to Source Powered by WPeMatico
‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion
Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused a bank run, while others … Read more
